Sunday, February 11, 2007

Chavez at the Helm

Per the Sunday edition of the Los Angeles Times, Venezuela's yearly inflation rate is 25%, and that figure is twice that government's goal. Copernicus I am not, but that seems to indicate a target rate of inflation of 12.5%. (Of course, Zimbabwe's has passed the 1000% mark and it's looking completely uncontrollable.)

And so Chavez has instituted price controls. This is not going to go well for Venezuela.